Denver Ranks 9th of 51 in Denver Real Estate Reports
Denver?s real estate market was ranked 9th in the Emerging Trends in Real Estate report released Wednesday. 51 U.S. cities were ranked in several categories, including homebuilding and rental markets. The report, which was sponsored by the Urban Land Institute and PWC, attributes Denver?s relatively strong market to its smart urban and economic development, among other things: ?The city made progress positioning for 21st-century growth by strengthening its downtown core through a new light-rail and railroad hub to serve surrounding suburban nodes. As a result, the central business district becomes ?the place to be,? and mixed-use, transit-oriented development helps anchor suburban districts. This metro area also has one of the nation?s most modern airports, an attractive Rocky Mountain backdrop, relatively low business taxes, and a broad-based economy anchored by oil and gas, alternative energy, and defense companies. Denver?s best ranking was in the apartment category, for which the report placed it number 6, coming in above San Diego, but behind Seattle. The report indicates that Denver?s rental market is relatively strong. San Francisco took the top spot in this category. Meanwhile, Denver fared not as well in the homebuilding category, coming in at number 17. It received a score of 4.13, where 1 is ?abysmal, and 9 is ?excellent. Denver placed almost exactly in between the lowest scoring city, Detroit, which scored 1.63, and Washington D.C., which scored 7.0.